Mechanics Bank Trust Department Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Mechanics Bank Trust Department acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 874 shares of the aerospace company's stock, valued at approximately $390,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. LaFleur & Godfrey LLC boosted its stake in shares of Lockheed Martin by 18.0% during the 4th quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after purchasing an additional 176 shares during the period. Eagle Capital Management LLC lifted its position in shares of Lockheed Martin by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after purchasing an additional 32 shares during the period. Brighton Jones LLC raised its stake in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after acquiring an additional 191 shares in the last quarter. Hudson Portfolio Management LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $256,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LMT shares. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Wall Street Zen lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group reduced their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Stock Down 1.0%

LMT traded down $4.64 during midday trading on Thursday, hitting $477.57. 1,062,709 shares of the company's stock traded hands, compared to its average volume of 1,299,701. The company has a market cap of $111.89 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The stock's fifty day simple moving average is $466.90 and its 200-day simple moving average is $472.81. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.76%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.